Siebert Financial (NASDAQ:SIEB) Releases Quarterly Earnings Results

Siebert Financial (NASDAQ:SIEB) posted its earnings results on Tuesday. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $31.17 million during the quarter. Siebert Financial had a negative net margin of 6.21% and a negative return on equity of 6.14%.

Siebert Financial Stock Up 4.5%

Shares of Siebert Financial stock opened at $1.75 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $1.74 and a 200 day moving average price of $1.95. Siebert Financial has a fifty-two week low of $1.53 and a fifty-two week high of $4.14. The firm has a market cap of $71.85 million, a P/E ratio of -12.54 and a beta of 0.93.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Siebert Financial in a research note on Friday, June 26th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Siebert Financial currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Siebert Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its stake in Siebert Financial by 40.9% during the first quarter. Jane Street Group LLC now owns 16,443 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 4,775 shares during the period. Geode Capital Management LLC boosted its stake in Siebert Financial by 81.8% in the second quarter. Geode Capital Management LLC now owns 400,488 shares of the financial services provider’s stock valued at $1,770,000 after acquiring an additional 180,186 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Siebert Financial by 111,383.3% during the second quarter. JPMorgan Chase & Co. now owns 6,689 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 6,683 shares during the last quarter. New York State Common Retirement Fund bought a new position in shares of Siebert Financial during the second quarter valued at approximately $95,000. Finally, Invesco Ltd. acquired a new stake in shares of Siebert Financial during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 1.52% of the company’s stock.

About Siebert Financial

Siebert Financial Corp., trading on the Nasdaq under the symbol SIEB, is the bank holding company for Siebert Bank & Trust, offering a full range of community banking services. Through its subsidiary, the company provides traditional deposit products, lending solutions and digital banking capabilities designed to meet the needs of individuals, businesses and agricultural customers.

Siebert’s product suite includes checking and savings accounts, certificates of deposit and money market instruments, alongside consumer and mortgage loans, agricultural lending and commercial credit facilities.